Use that number as a benchmark for evaluating this and other deals.  

Do you know other landlords in the similar market to benchmark with?  

I did some calculations, CoC as an alternative to CP which seems very subjective no(beyond an initial benchmark)?

CAP rates vary by market but as an example, if you are comfortable with your purchase price on the larger facility, you might just use that CAP rate as a bench mark for this smaller one.  

I have also used proof of funds letters from a private lender, basically a letter on his letterhead stating BenchMark has available "$200,000?" 

I have been using the following terms as a benchmark for our potential private investors in order to analyze returns. 

the formula works in any market and in any area with single family homes.70% of ARV - Repair costs gives you your maximum allowable offer (MAO) this formula determines the amount of hidden equity in your target single family home and will be your benchmark to see if you have a deal on your hands or not.

A benchmark rate is much easier and sellable on the secondary market since most of these loans are sold. 

Each exchange still has it's unique timing benchmarks that require close attention but moving your portfolio in both type and number is easily doable using 1031 exchanges.

This safe harbor serves two bench marks:1.